Dogecoin Is Rising But Faces The $0.26 Barrier

Dogecoin (DOGE) has risen to a high of $0.26 for the third time since May 10.

Dogecoin price long-term prediction: bullish

Buyers have failed to sustain their upside momentum above the $0.26 level.

However, the altcoin was pushed back and DOGE fell below the moving average lines. If buyers break through the $0.26 level today, the altcoin will rally to a high of $0.35.

On the other hand, if DOGE falls from its recent high, it will return to its current price range of $0.14 to $0.26. At the time of writing, DOGE is currently worth $0.25.

DOGE price indicators analysis

There are extended candlestick wicks pointing beyond the $0.26 level. The candlestick wicks indicate that sellers are present at higher price levels. The moving average lines are horizontal due to the sideways trend. The 21-day SMA is higher than the 50-day SMA, indicating that prices are currently rising. The upward sloping moving average lines on the 4-hour chart indicate that an upward trend has started.

Technical indicators:

Resistance Levels $0.45 and $0.50

Support Levels – $0.30 and $0.25

What is the next direction for Dogecoin?

DOGE price has resumed bullish momentum, rising above the moving average lines. The altcoin has peaked at $0.26. The 4-hour chart shows DOGE trading above the 21-day SMA support but below the $0.26 level.

If DODE turns away from the $0.26 barrier, it will continue to trend sideways. It will restart its upward trend once it breaks above the $0.26 mark.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.